Weekly Global Financial News (May 12-May 18)

India Economic Summit 2008

China seen able to tell U.S. that Yuan is near fair value, By Reuters, Published: May 13
Amid U.S. pressuring China to move to a more market-based rate, China claims that after a rise of nearly one-third since its 2005 revaluation, the Yuan is now fairly valued

Russians ditch ruble en masse, data shows, By Reuters, Published: May 12
Amid the continued weakening of the ruble due to the strong standoff with the west, data shows that Russians ditched the ruble en masse while the aggregate demand for foreign currency has increased dramatically.

LSE in talks to buy Russell to expand in U.S. stock indices, By Reuters, Published: May 13
The London Stock Exchange (LSE) is in talks to acquire Seattle-based Russell Investment, seeking market expansion to the U.S.

Forex losses lay bare China’s lack of hedging expertise, By Reuters, Published: May 15
Due to the increased volatility and necessity to deal with currency risk, Chinese firms is now building its hedging experiences,

Boko Haram threatens Nigeria’s economic future, By CNNMoney, Published: May 12
Nigeria has been under spotlight as the attractive investment in recent years. However, its security problem with the militants from Boko Haram hinders investors from going forward.

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